Associated Bank Funds $25.4M Construction Loan For Bridge Point I-55 Commerce Center
775 Independence Boulevard
$25,400,000
$87/SF
Building Size
292,054 SF
Asset Type
Industrial
Closing
Jul 12, 2024
AI
The property at 775 Independence Boulevard in Romeoville is the site of Bridge Point I-55 Commerce Center, a 292,054-square-foot industrial project developed by Bridge Industrial. The project comprises two buildings with 68 exterior docks and 330 car parking stalls.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,400,000
- Address: 775 Independence Boulevard
- Market: Romeoville
- Lender: Associated Bank
- Landlord: Steve Poulos - Bridge Industrial
- Brokers: Adam Roth & Daniel Leahy - NAI Hiffman
Associated Bank provided a $25.4 million construction loan for the Bridge Point I-55 Commerce Center project. The industrial development is set to be completed in July 2025 and is currently being marketed for lease by NAI Hiffman.
Players
Romeoville Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93